Credit Card Payoff Calculator
Find out how long it will take to pay off your credit card and how much interest you will pay.
Disclaimer
This calculator provides estimates for general information purposes only. Results should not be relied upon as professional financial, tax, or legal advice. Tax rates and thresholds are based on publicly available ATO data and may change. Always consult a qualified tax agent or financial adviser for advice specific to your circumstances.
Frequently Asked Questions
Why does paying minimums take so long?
What is the best strategy to pay off credit card debt?
What is Credit Card Payoff?
A credit card payoff calculator shows how long it will take to pay off your credit card balance and how much you'll pay in interest at your current payment level.
How this calculator works
The calculator simulates month-by-month payments: each month, interest accrues on the remaining balance at your card's annual rate divided by 12. Your payment covers the interest first, with the remainder reducing the principal. It also simulates minimum payments (2% of balance or $25, whichever is greater) to show how dramatically longer and more expensive the minimum-only approach is — often 30-40+ years for a typical balance.
All calculations are performed in your browser — your data never leaves your device. Results are for general guidance only and should not be considered professional financial advice.
Built and maintained by Konstantin Iakovlev. Data sourced from the ATO and official Australian government sources.